The movement of EURUSD on the 1-hour chart is beginning to exhibit signs of a trend shift from bearish to bullish. The primary signal indicating this directional change is evident after the price successfully breached a significant resistance level that had previously obstructed upward movement (marked in blue). This breakout suggests that buyers are starting to seize control of the market following an extended period of selling pressure. The increase in price, accompanied by the establishment of a new resistance level and rising lows, indicates that the pricing structure is now developing a healthier upward trend.
From a technical perspective, the bullish signal is further reinforced by the ZigZag indicator and Moving Average (MA), both of which are trending upward, in line with the MACD that has entered positive territory. The combination of these three indicators demonstrates that buying momentum is strengthening, creating opportunities for EURUSD to continue its ascent toward the next resistance area. As long as the price maintains a position above the breakout level and does not drop below the minor support level, the chances for sustained bullish trends remain promising during the upcoming US session tonight.
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EURUSD demonstrates signs of strength after successfully breaking through the upper boundary of the bearish channel on the 15-minute chart, signaling the potential for a short-term reversal. The sharply rising Moving Average (MA) reinforces the bullish momentum, while the price structure that is beginning to form an initial upward pattern indicates that buyers are starting to take control. This combination of technical signals opens the door for EURUSD to extend its gains and test the resistance around the 1.16000 level.
Technical Reference: buy as long as above 1.15280
Potential Take Profit 1: 1.15875
Potential Take Profit 2: 1.16000
Potential Stop Loss 1: 1.15415
Potential Stop Loss 2: 1.15280
